57% of consumers in US broadband households subscribe to an OTT video service, such as Netflix or Hulu Plus. The research firm reports the average US broadband household spends $9 per month on Internet video, up from $7 in 2012.
“The number of hours watching video content continues to rise, exceeding 36 hours per week in 2014, with Internet video accounting for 37% of that time, or approximately 13.3 hours a week,” said Brett Sappington (pictured), director of research, Parks Associates.
“Rather than cannibalising the consumption of broadcast, pay-TV, and packaged media content, Internet video is increasing overall consumption levels for video.”
Data highlights from Parks Associates include: nearly 50 million streaming media players will be sold worldwide in 2017. Homes with children spend on average 90 per cent more on OTT services and digital video than homes with no children. More than 75% of streaming media player owners have an OTT subscription.